Sensex zooms 600 pts, Nifty above 17,300; Tech Mahindra gains 5%

Indian equity market lost three per cent for the second straight week in tandem with global selloff after the US Federal Reserve signalled policy tightening from March. 

The benchmark BSE Sensex tumbled 1,836.95 points, or 3.11 per cent, to 57,200 on January 28 against 59037.18 on January 21. Likewise, the 50-share NSE Nifty index retreated 515.20 points, or nearly 3 per cent, to 17,101.95 during the same period.

Payments solutions provider AGS Transact Technologies made a flat market debut today. Shares of AGS Transact Technologies listed at Rs 176 on BSE compared to the issue price of Rs 175. The company offered its shares in a price band of Rs 166-175. This is the first stock market listing of 2022.

The market cap of the firm stood at Rs 2,118 crore. Total 0.51 lakh shares of the firm changed hands amounting to a turnover of Rs 88.90 crore on BSE.

10:15 am: Market check

The benchmark indices were trading sharply higher on Monday. Sensex zoomed over 800 points to 58,048 and Nifty jumped 250 points to 17,353.

9:25 am: Parliament session to begin from today; Economic Survey to be out

The Budget Session of the Parliament will begin from today with the address by President Ram Nath Kovind to the Lok Sabha and the Rajya Sabha in the Central Hall. The President will address both the Houses today at 11 am.

The Lok Sabha will sit for business half an hour after the President’s Address. The Economic Survey 2021-22 will be tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha today, and she will present the Budget 2022 on February 1 at 11 am.

9:16 am: Market Opening

Indian benchmark indices opened sharply higher on Monday. At 09:16 hours, the 30-share BSE index was trading 645 points higher at 57,845.91, and the broader NSE Nifty was up 199 points to 17,301.05.

Wipro was the top gainer in the Sensex pack, advancing over 3 per cent, followed by IndusInd Bank, Infosys, Tata Steel, Bajaj Finserv and Tech Mahindra.